Years ago, the practice of public agencies borrowing directly from commercial banks to finance public purposes, including facilities, was commonplace. Over time, the volume of these transactions as well as the economics of borrowing led to a greater reliance on loans underwritten and distributed by investment banks. Several recent trends, including the decline in liquidity products and other credit supports along with regulatory and tax reforms, have led to the reemergence of bank lending and the entry of other capital providers in the municipal market. This program is designed to explore the changing practices of municipal borrowers and lenders and the implications of alternative financing on municipal finance. The program also highlights the confluence of economic, market, and policy trends that may introduce yet unperceived risks that require new forms of analysis and reporting. You must be registered for the main conference to attend the pre-conference.